Having complete control over your papers at any time is vital to ease your everyday tasks and enhance your productivity. Accomplish any goal with DocHub features for papers management and convenient PDF editing. Gain access, modify and save and integrate your workflows along with other protected cloud storage services.
DocHub provides you with lossless editing, the opportunity to work with any formatting, and securely eSign documents without having looking for a third-party eSignature alternative. Get the most of the file management solutions in one place. Consider all DocHub capabilities right now with your free profile.
Hi, Else here. And in this video, well be learning about how to report expenses on the statement of income/comprehensive income. As noted in my previous video, expenses are not a required line item under Canadian IFRS. However, one of the required line items is profit or loss from all operations. This can only be calculated when expenses, such as cost of goods sold or depreciation, are included. It is, therefore, clear that the line item expenses must be presented in the statement. In addition, IAS I, in paragraph 99, recommends that the statement of income/comprehensive income include an analysis of the expenses classified in one of two ways-- by nature or by function. What does this mean? By nature means that expenses are grouped based on the source of the expense. All similar sources are grouped together. By function means that expenses are grouped based on what the business used the expenses for. This can also be viewed as grouping cost by activity. Often the whole concept of by